iFit, the connected fitness streaming platform and subset of ICON Health &Fitness, announced the completion of the $200 million investment round, led by Pamplona Capital Management, to expand its program within the tech connected home and club fitness industries. Using streaming technology, iFit enables consumers to get in shape and stay in shape with interactive trainer-led streaming workouts shot on location around the world.
Trainers of all backgrounds can use iFit through a paid membership and gain access to studio classes, global workouts, cross training workout, and google map workouts in various languages available, with ICON planning to expand the languages in 2020. The parent company, which owns NordicTrack, ProForm, and Freemotion, offers multiple product lines or treadmills, bikes, elliptical machines, rowers, and strength products that customers can use in their own homes.
With a direct-to-consumer business that serves 330,000 users and a successful retail distribution and more than 1500 locations where consumers can shop ICON’s connected equipment, iFit is set to dramatically increase consumer awareness and broaden the most expansive library of interactive fitness content. ICON hopes to use the investment to continue enhancing their customers’ fitness experience through innovation and technology that is captured on iFit’s platform.
“As a company, we’re laser-focused on bringing iFit’s exceptional interactive fitness experience to as many consumers as possible, on as many products as possible, as fast as possible. This capital raise just accelerated our ability to achieve our mission,” Watterson concluded.
